Williams shareholder Toto Wolff has confirmed speculation that the Grove-based
team are in talks with former world champion Kimi Raikkonen about a possible
return to Formula One next year.

Raikkonen was seen at Williams’ headquarters this summer, sparking rumours that the 32 year-old Finn might be ready to quit rallying two years after leaving Ferrari for a crack at the WRC.

Despite no official word from the team, Wolff confessed to an Austrian newspaper over the weekend that the Finn was one of several options the team were looking at.

"We are in conversation with Raikkonen," he said. "But he is only one of several options."

Williams are enduring their worst ever season in Formula One, with five points from 17 races, and the association with Raikkonen - whether or not it leads to anything - is a welcome one from their perspective.

To make it work, the team would likely need to find additional sponsorship to meet the ‘Iceman’s wage demands, even if Raikkonen is prepared to take a massive pay cut from his Ferrari days.

Asked at the recent Indian Grand Prix whether Raikkonen might return to race for Williams next year, team chairman Adam Parr refused to be drawn.

"Our race drivers are Pastor Maldonado and Rubens Barrichello and if, and when, that changes we will make an appropriate announcement," he said.

The enigmatic Raikkonen, still hugely popular with fans, told the latest edition of F1 Racing magazine that anything was possible.

"There are many different options and of course a lot of speculation," he said. "Until something is certain, there is no point in speculating because it could go any way. To be honest, I don't know myself yet."

Either way, veteran driver Rubens Barrichello looks to have a big fight on his hands to retain his Williams drive. The 39 year-old’s rookie team mate Pastor Maldonado brings substantial sponsorship to the team from Venezuelan state oil company PDVSA and his seat looks secure.

"The fans need to know,” Barrichello said recently. “Williams told me they would like to make a decision before Brazil, so I hope at least that is a positive. I would like that to happen.”

Force India’s Adrian Sutil is another name which has been mooted in connection with Williams. Force India principal Vijay Mallya said in India that he hoped to announce his 2012 line-up before this weekend's race in Abu Dhabi but that looked less likely on Monday.

"All the drivers have asked me to make an early decision, and I respect that. I have a big decision to make," he said in a team preview. "But it's not made yet."

Britain's Paul Di Resta is expected to stay at the team, with Germany's Nico Hulkenberg, who raced for Williams in 2010 and took pole position in Brazil, widely tipped to join him at Sutil's expense.

The other big question mark in the driver market hangs over Renault, with Robert Kubica's return still up in the air.

The Pole has yet to step into a Formula One car since his near-fatal pre-season rally crash and Renault will be trying out Frenchman Romain Grosjean in Friday practice this week to assess his potential. Brazilian Bruno Senna, who has a contract to stand in until the end of the season, is also hoping to stay on if Kubica cannot return.